The Financial Industry Regulatory Authority (FINRA) announced today that it has censured and fined two broker-dealer firms a total of $500,000 for violations related to securities short selling requirements, improper influencer marketing practices, and deficient privacy disclosures to customers.
The Public Company Accounting Oversight Board (PCAOB) has issued a settled disciplinary order against L&L CPAs, PA, a Florida-based public accounting firm, its President, Weixuan Tracy Luo, and two other associated persons, Andy Chow and Robert Kinzer. The sanctions come in response to violations of PCAOB rules and standards related to quality control, auditing, and reporting.
The data protection authorities of the United Kingdom and Canada have announced a collaborative investigation into the significant data breach at 23andMe, a leading global provider of direct-to-consumer genetic testing services.
The Financial Crimes Enforcement Network (FinCEN) has released its Year in Review for Fiscal Year 2023, underscoring the critical role of regulatory compliance and enforcement in safeguarding the U.S. financial system. The report showcases how the bureau leverages the Bank Secrecy Act (BSA) data to combat money laundering, terrorism financing, and other financial crimes, while holding non-compliant entities accountable.
The Public Company Accounting Oversight Board (PCAOB) has announced an open meeting on Wednesday, June 12, 2024, at 2:00 p.m. ET, where it will consider crucial proposals and amendments to strengthen auditing standards and professional conduct rules.
A new report from KPMG International underscores the critical importance of proactive risk management for global businesses as they navigate an increasingly complex landscape of geopolitical instability, trade restrictions, and divergent AI governance. The report, "Top risks forecast: Bottom lines for business in 2024 and beyond," highlights how these three key risks are undermining long-term sustainable growth and urges companies to adapt their risk strategies accordingly.
In an era marked by geopolitical tensions, technological disruptions, and an increasing focus on sustainable finance, the Joint Committee of the European Supervisory Authorities (ESAs) has released its 2023 Annual Report, highlighting a year of significant cross-sectoral collaboration. The report, issued by the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA), underscores their joint efforts in safeguarding the stability and integrity of the European financial sector.